A Crippling Collapse in Consumer Spending is Coming
Most gig and hourly workers are walking a financial tightrope. They will not be able to afford even a short-term hit to their earnings… Read More A Crippling Collapse in Consumer Spending is Coming
Category: Faux Recovery
JPMorgan Chase and Citibank Have $2.96 Trillion in Exposure to Credit Default Swaps
That these Wall Street banks are still endangering the safety and soundness of the U.S. banking system and U.S. economy is nothing short of a regulatory failure of epic proportions… Read More JPMorgan Chase and Citibank Have $2.96 Trillion in Exposure to Credit Default Swaps
Stop the Coronavirus Corporate Coup
“Any time there is a crisis and Washington is in the middle of it is an opportunity for guys like me,” said one lobbyist.… Read More Stop the Coronavirus Corporate Coup
Wall Street’s Crisis Began Four Months Before the First Reported Death from Coronavirus in China; Here’s the Proof
That doesn’t mean Wall Street is not going to let a national emergency go to waste. It’s going to maximize bailing itself out while the public’s attention is focused on a national crisis… Read More Wall Street’s Crisis Began Four Months Before the First Reported Death from Coronavirus in China; Here’s the Proof
Junk-Bond Spreads & BBB-Bond Spreads Blow Out Past Lehman-Bankruptcy Levels
Frazzled by the sudden appearance of Financial Crisis 2, the Fed scurries in every bailout direction… Read More Junk-Bond Spreads & BBB-Bond Spreads Blow Out Past Lehman-Bankruptcy Levels
Federal Reserve to Offer $270 Billion in Loans to Wall Street Tomorrow
All of this money gusher will be dispensed by the New York Fed, the same regional Fed bank that funneled the bulk of the secret $16 trillion in aggregate emergency loans to Wall Street during the last financial crisis… Read More Federal Reserve to Offer $270 Billion in Loans to Wall Street Tomorrow
European Bank Stocks Collapse to March 2009 & 1988 Levels
Just how much lower can they go? To Zero. And the ECB’s negative interest rates are driving them closer to it… Read More European Bank Stocks Collapse to March 2009 & 1988 Levels
Coronavirus Has Sparked a Perfect Storm of Nationalism and Financial Speculation
Nationalism and speculation have seldom had a better opportunity to combine forces as the one riding today on the coattails of Covid-19, known as the coronavirus. … Read More Coronavirus Has Sparked a Perfect Storm of Nationalism and Financial Speculation
Demand for Fed’s Repo Loans Surges Past $100 Billion a Day as 10-Year Treasury Hits Lowest Rate in 149 Years
Federal Reserve Chairman Jerome Powell certainly has an odd notion of what constitutes an “orderly” market… Read More Demand for Fed’s Repo Loans Surges Past $100 Billion a Day as 10-Year Treasury Hits Lowest Rate in 149 Years
“Wall Street Biggest Banks Shamelessly Try to Use Coronavirus to Get Federal Reserve to Weaken Rules”: Better Markets
At first, banks leveraged the repo market to force the Fed to ease liquidity & capital rules; now they leverage the coronavirus. Whatever it takes.… Read More “Wall Street Biggest Banks Shamelessly Try to Use Coronavirus to Get Federal Reserve to Weaken Rules”: Better Markets
“Nothing Goes to Heck in a Straight Line,” Not Even Stocks Today
Wow, what a day, what a week, what a 15-minute spike at the end!… Read More “Nothing Goes to Heck in a Straight Line,” Not Even Stocks Today
Wall Street Behemoths Dangerously Linked by Derivatives
The last few days’ decline in the broader averages looks tame compared to what happened to some of the biggest banks on Wall Street and their derivative counterparties… Read More Wall Street Behemoths Dangerously Linked by Derivatives
